Researcher Claims 1 Bitcoin Bounty for Achieving Largest Quantum Attack on Underlying Technology

The theoretical quantum threat to Bitcoin's security has become more tangible. Quantum security startup Project Eleven awarded a 1 bitcoin bounty, valued at approximately $75,326.43, to Giancarlo Lelli for breaking a 15-bit elliptic curve key on publicly accessible quantum hardware. This feat, which derived a private encryption key from its public counterpart, represents the largest public demonstration of a potential attack on Bitcoin and other major blockchains. Elliptic curve cryptography, the foundation of crypto wallets, relies on the impracticality of deriving a private key from a public one. However, quantum computers utilizing Shor's algorithm pose a challenge to this assumption. Lelli's achievement, while significant, does not immediately threaten Bitcoin's security, as it uses 256-bit elliptic curve protection. The prize aimed to assess the progression of quantum attacks from theoretical concepts to practical, publicly accessible hardware experiments. The previous public break, a 6-bit demonstration by Steve Tippeconnic in September 2025, was surpassed by Lelli's 15-bit result, marking a 512-fold increase in seven months. As the resource requirements for such attacks continue to decrease, concerns grow for wallets with visible public keys, potentially leaving approximately 6.9 million bitcoin vulnerable. In response, Bitcoin developers have proposed migration paths, including the introduction of quantum-safe address types, while other cryptocurrencies like Ethereum, Tron, StarkWare, and Ripple have published post-quantum transition plans.